May 11, 2020 / 11:30 AM / 24 days ago

BRIEF-Brembo Q1 EBITDA Falls To EUR 102.0 Mln

May 11 (Reuters) - Freni Brembo SpA:

* Q1 REVENUE EUR 575.9 MILLION VERSUS EUR 667.1 MILLION YEAR AGO

* Q1 EBITDA EUR 102.0 MILLION VERSUS EUR 134.2 MILLION YEAR AGO

* Q1 EBITDA MARGIN 17.7% VERSUS 20.1% YEAR AGO

* Q1 NET PROFIT EUR 29.8 MILLION VERSUS EUR 64.4 MILLION YEAR AGO

* HAS DEVELOPED AND IMPLEMENTED MEASURES AIMED AT MITIGATING IMPACT OF COVID-19

* RESULTS OF THESE ACTIONS WILL BECOME MORE VISIBLE IN THE COMING QUARTERS

* IT IS DIFFICULT TO MAKE QUANTITATIVE PROJECTIONS ON THE GROUP’S ECONOMIC AND FINANCIAL PERFORMANCE

* A DIVIDEND MAY BE PROPOSED WHEN CURRENT SITUATION RELATING TO COVID-19 HAS BEEN OVERCOME

* BETWEEN APRIL AND MAY FINANCES WERE REINFORCED BY NEW MEDIUM/LONG-TERM LOANS FOR €425 MILLION

* NEW LOANS ENABLED GROUP TO EXTEND AVERAGE LIFE OF ITS DEBT

* CHAIRMAN SAYS “WE ARE CONFIDENT WE WILL RESUME GROWTH, WITH EVEN GREATER STRENGTH AND DETERMINATION, IN MEDIUM/LONG-TERM” Source text: www.1info.it Further company coverage: (Gdansk Newsroom)

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